The average two-year fixed rate fell from 2.58 per cent to 2.55 per cent across the week, says Moneyfacts data.

At the same time, the average three-year fix increased from 2.67 per cent to 2.69 per cent, the average five-year fix from 2.77 per cent to 2.79 per cent and the average 10-year fix from 2.93 per cent to 3 per cent.

Two-year fixes

There was a significant drop in the average rate at 95 per cent LTV, which fell 20 basis points – from 4.47 per cent to 4.27 per cent.

At 65 per cent LTV, the average rate fell too – from 2.33 per cent to 2.22 per cent.

And at 85 per cent LTV and 70 per cent LTV, the average rate fell 4 basis points in each, to 2.99 per cent and 2.43 per cent, respectively.

Three-year fixes

There were only two rate changes when separated by LTV band here.

At 95 per cent LTV, a 9 basis point increase saw the average rate grow from 3.99 per cent to 4.08 per cent and, at 90 per cent LTV, a 1 basis point increase had the average rate finish the week at 3.55 per cent.

Five-year fixes

The biggest changes here this week were at 50 per cent LTV, with the average rate falling 13 basis points to 2.52 per cent and at 65 per cent LTV, where the average rate decreased from 2.35 per cent to 2.31 per cent.

10-year fixes

It was busier than usual within this fix this week. At 90 per cent LTV, the average rate gained 2 basis points, ending the week at 3.96 per cent.

There was an increase at 60 per cent LTV, too – 6 basis points, from 2.45 per cent to 2.51 per cent.

At 50 per cent LTV, meanwhile, the average rate tumbled 43 basis points, moving from 3.82 per cent to 3.39 per cent.

Moneyfacts finance expert Eleanor Williams says: “This week saw a variety of activity from mortgage providers; NatWest refreshed their range with rate reductions of up to 0.53 per cent on a selection of fixed rates, the launch of new deals and amendments to both fees and incentive packages.

“Nationwide reduced rates by up to 0.20 per cent on some of their remortgage products, while first direct included rate increases of up to 0.30 per cent on various deals in their latest update.

“Product choice continues to improve in the top LTV bracket, with Skipton Building Society making their products at 95 per cent LTV available to second-time buyers and launching another option in this tier, while also making rate reductions of up to 0.74 per cent to other products.

“TSB made criteria updates as well as launching a variety of house purchase products in the 90 per cent and 95 per cent sectors, and both West Brom Building Society and Buckinghamshire Building Society also added deals for those with 5 per cent deposits.

“Products and criteria remain fluid, so those who are looking to progress an application are likely to find the market knowledge and support of a qualified advisor invaluable.”